Thursday, June 10, 2010

Join the Billionaire's Club!

It was a sight to warm the hearts of Capitalists everywhere-Australia's richest woman Gina Rinehart demonstrating against the proposed mining tax that will be increased to 40% on future profits.

Never have the well heeled battlers come out in force and together for such a common cause. Billionaire's and the nation's 3 richest people-Andrew 'Twiggy' Forrest, the corpulent Clive Palmer and our Gina, daughter of the late billionaire Lang Hancock who married his Filipino nurse Rose-in twin set and pearls shouting herself hoarse on the back of a flat bed truck on the well manicured lawns of Perth's Langley Park, screeching about PM Kevin Rudd's proposed tax that will kick in 2012 and replace a royalty system currently paid.

No Tax Gina Rinehart

Gina's ex-step mum Rose

'Twiggy' Forrest is one our favourites-hovering between the richest and second richest man in the country depending on share price and always pictured at these events in a worker's orange flouro jacket and miner's helmet-sparkling clean-before clambering into his chauffeured Beemer and speeding off to the boardroom.

The idea of this tax is the more the mining corporations make-most with their headquarters based in Geneva or the Cayman Islands, the more the government will make on minerals dug out of the ground and the more the government will raise in taxes on a finite resource that will run out one day.

Whilst China booms so do we and with building programs there that will see Aussie mineral deposits that have kept the country afloat for 2 decades , sought after for years to come , the government reckons the common people should be getting a bigger share of what basically belongs to the nation. The billionaires aren't having any of that nonsense and reckon the Mandarin speaking Rudd is on the way to become a full blown Communist (while China is well on the way to becoming a capitalist giant).

Clive Palmer

Of course mining actually does little to improve the country. No infrastructure is built-just bloody great holes in the ground from which the precious minerals are extracted and then these mining giants just move on

Someone has badly planned this PR cock-up. The miner's union wouldn't have a bar of it so it was left to the bosses to pitch in a few hundred million dollars for a TV advert campaign. But having a handful of mining corporation bosses-with US , British and European accents weeping over lost billions in profits was always going to end in tears and having one corporation which wasn't stock market listed (hence it's share price wouldn't be affected) announce it was upping stakes and moving out only to discover it was actually expanding it's drilling operations soon backfired.

Not only will these corporations be able to deduct all investment in their mineral searches , they will only pay tax on super profits at 40% which is reckoned by the Treasury to raise an extra $9Billion a year.

As a flushed Gina led a chorus of mine managers (on about $250K a year) in a rousing chant of-

"Axe the tax..axe the tax"..she paused for a minute and shouted "what do want for Australia again?"...one impertinent sod shouted "the Wallabies to win on Saturday !".( the rugby team are playing the English team at Subiaco oval in Perth).

The Shuttle has forwarded Gina, Clive and Twiggy's and names to be entered in the Roll of Honour at the prestige USA organisation Billionaire's For Wealthcare who regularly turn up in limos at anti-Barack Obama parades against socialised health care.